Australian-listed Noronex has completed the sale of Dordabis and advanced the disposal of Witvlei, the two copper projects that formed its original DorWit portfolio and marked the company’s entry into mineral exploration in Namibia.
The disposals bring Noronex closer to ending its involvement in the projects that established its presence in the country’s copper sector before it expanded into the wider Kalahari Copper Belt and, more recently, uranium exploration in the Erongo Region.
In its annual report for the financial year ended 30 June 2026, Noronex confirmed that the sale of Dordabis to Umino (Pty) Ltd had been completed, with all payments received, while the buyer of Witvlei, Joint Era Mining Co. Limited, had completed due diligence, made an initial payment and taken responsibility for the project’s ongoing costs.
The two projects, collectively known as DorWit, were central to Noronex’s early exploration strategy in Namibia. Their disposal represents a change in direction for a company that initially concentrated on evaluating known copper deposits before building a much larger exploration portfolio.
Noronex’s involvement in DorWit dates back to 2020, when it entered the Namibian copper sector through an acquisition involving Larchmont Investments and interests associated with the local company Aloe 237.
The transaction gave the company exposure to copper deposits and exploration prospects around Dordabis and Witvlei, providing its initial operating base in Namibia.
At the time, the attraction of DorWit was that the properties contained previously identified copper mineralisation, allowing Noronex to build on historical exploration rather than begin entirely with untested ground.
The portfolio included prospects such as Malachite Pan, Okasewa, Christiadore and other copper targets in the Witvlei and Dordabis areas.
The Witvlei deposits had a reported combined mineral resource of approximately 8.8 million tonnes grading 1.28% copper, containing about 112,500 tonnes of copper.
These deposits became part of Noronex’s early strategy to establish a significant copper exploration business in Namibia.
Noronex confirmed that the disposal of Dordabis, covered by EPL 7030, to Umino (Pty) Ltd had been finalised for approximately A$1.2 million.
The sale process had been under way since 2023, with the consideration received through several payments.
According to the annual report, approximately A$500,000 had been received by 31 December 2025, followed by a N$5 million payment during the March 2026 quarter.
A final instalment of approximately A$100,000 was received after 30 June 2026, completing the transaction.
Noronex held an indirect 56% interest in Dordabis through the Aloe 237 joint venture structure.
Under the sale agreement, Umino acquired a 100% interest in the project and assumed responsibility for future expenditure and other obligations.
Noronex said the disposal was consistent with its strategy of streamlining its asset portfolio and concentrating on projects it considers central to its future exploration activities.
The completion of the transaction formally ends its involvement in one of the properties that formed the foundation of its original Namibian business.
The second part of the DorWit portfolio, Witvlei, is being sold to Joint Era Mining Co. Limited under an agreement concluded during the December 2025 half-year.
The transaction covers EPL 7028 and EPL 7029 and provides for A$4.5 million in staged cash consideration, together with a further A$2 million in deferred consideration payable through a 2% net smelter return royalty following the commencement of commercial production.
Joint Era Mining completed its financial, legal and technical due diligence during the March 2026 quarter and paid the first A$1.25 million instalment.
Of that payment, A$1 million was attributable to Noronex, with the balance allocated to Larchmont Holdings under their 80:20 arrangement.
The buyer also assumed responsibility for expenditure commitments, statutory fees, taxes and holding costs associated with the Witvlei licences.
Noronex reported that Joint Era Mining had begun preparing a mining licence application, representing a further step towards the possible development of the copper deposits.
At 30 June 2026, another A$1.25 million payment remained outstanding. This instalment is linked to the granting of the mining licence and was expected during the second half of 2026, subject to regulatory approval.
Although the buyer has assumed the project’s ongoing financial obligations, Noronex has not confirmed that the entire Witvlei transaction has been completed.
The remaining payments and licensing milestones will determine when the disposal is fully concluded.
The departure from DorWit follows a substantial expansion of Noronex’s exploration activities in Namibia.
What began as an interest in the Dordabis and Witvlei copper deposits has developed into a much larger exploration business covering approximately 9,512 square kilometres of Namibian ground.
Noronex’s copper exploration interests now form part of a broader Kalahari Copper Belt portfolio extending into Botswana.
The company reported that its combined holdings across the two countries had grown to approximately 10,398 square kilometres, including 886 square kilometres in Botswana.
These properties extend across approximately 300 kilometres of prospective geological formations associated with sediment-hosted copper deposits.
Unlike DorWit, where the company’s initial interest centred on known deposits and historical mineral resources, its larger exploration portfolio is focused on identifying additional copper systems across extensive areas of prospective ground.
Noronex is pursuing this strategy in partnership with international mining group South32.
Under their Humpback-Damara agreement, South32 can acquire a 60% interest in the Namibian project by spending A$15 million on exploration over five years.
The partnership was subsequently expanded into Botswana through the Cgae Cgae copper project, where South32 can earn a 60% interest by funding A$5 million in exploration.
During the June 2026 quarter, the companies agreed to continue both partnerships while reducing their combined minimum expenditure for the 2026/27 programme year to A$2 million.
The overall earn-in commitments remain unchanged, but the immediate programme will concentrate on identifying additional drilling targets before more substantial expenditure resumes.
Noronex has also moved beyond copper through its involvement in the Etango North uranium project in Erongo.
The project, covered by EPL 6776, is located approximately three kilometres north of Bannerman Energy’s Etango uranium project.
Noronex exercised an option in February 2026 to earn a 51% interest in Etango North after paying the Namibian vendor, Moses Sesamba, N$750,000 in cash and N$750,000 in company shares.
It can increase its interest to 80% by August 2027 through further payments of N$2 million in cash and N$2 million in shares, together with continued exploration.
The company completed its first reverse-circulation drilling programme at Etango North and subsequently reported uranium-bearing intersections at several targets.
The project remains at an early exploration stage, but its addition illustrates how far Noronex’s Namibian interests have expanded beyond the original DorWit copper properties.
The sale of DorWit separates Noronex from the properties through which it established its Namibian exploration presence.
Dordabis is now under the ownership of Umino, while Joint Era Mining is progressing the acquisition and mining licence process at Witvlei.
The future of the two properties will depend on whether their new owners undertake further exploration, complete the necessary technical studies and secure the approvals and financing required for development.
The Witvlei transaction is particularly significant because the buyer has already begun preparing a mining licence application, although neither the granting of a licence nor a decision to begin commercial mining has been confirmed.
